Monday, August 6, 2012

S&P Morning Update for Aug 6, 2012



As mentioned in last night's Blog - the trend is up. O/N Inventory is Long. Unless we get price acceptance below 1384.50 which is Friday afternoon's pullback Low and Mid point, Value should be higher and the target becomes the 1400 level. Friday's POC was prominent and has a good odds of be visited. However, if we Gap Open higher - trade in the direction of the Gap if it is not filled within the first 30 minute period. No Major news this morning.

No comments:

Post a Comment